Cross Country Healthcare, Inc. (NASDAQ:CCRN) Forecasted to Post Q3 2024 Earnings of $0.10 Per Share

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Stock analysts at William Blair dropped their Q3 2024 EPS estimates for shares of Cross Country Healthcare in a note issued to investors on Thursday, August 1st. William Blair analyst T. Romeo now expects that the business services provider will post earnings of $0.10 per share for the quarter, down from their previous estimate of $0.19. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.68 per share. William Blair also issued estimates for Cross Country Healthcare’s Q4 2024 earnings at $0.14 EPS, FY2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.19 EPS and Q4 2025 earnings at $0.23 EPS.

A number of other brokerages have also commented on CCRN. Truist Financial boosted their price objective on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday. Benchmark lowered their price objective on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Barrington Research cut their target price on Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.00.

Cross Country Healthcare Trading Down 2.5 %

NASDAQ CCRN opened at $17.11 on Friday. The stock has a market cap of $594.91 million, a P/E ratio of 13.16, a PEG ratio of 2.57 and a beta of 0.63. The company’s fifty day simple moving average is $14.76 and its 200-day simple moving average is $17.01. Cross Country Healthcare has a 52 week low of $12.87 and a 52 week high of $26.17.

Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Wednesday, July 31st. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $339.77 million during the quarter, compared to analyst estimates of $334.75 million. Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. Cross Country Healthcare’s quarterly revenue was down 37.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS.

Hedge Funds Weigh In On Cross Country Healthcare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCRN. Dimensional Fund Advisors LP boosted its position in Cross Country Healthcare by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,256,832 shares of the business services provider’s stock worth $51,095,000 after acquiring an additional 76,954 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Cross Country Healthcare during the 1st quarter worth about $2,078,000. Wasatch Advisors LP lifted its stake in shares of Cross Country Healthcare by 74.3% in the 4th quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after acquiring an additional 934,841 shares during the period. BOKF NA bought a new position in shares of Cross Country Healthcare in the first quarter valued at approximately $247,000. Finally, Everence Capital Management Inc. bought a new stake in Cross Country Healthcare during the fourth quarter worth approximately $251,000. 96.03% of the stock is owned by institutional investors.

Insider Transactions at Cross Country Healthcare

In related news, insider Marc S. Krug sold 13,657 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $14.82, for a total transaction of $202,396.74. Following the completion of the transaction, the insider now owns 36,020 shares in the company, valued at approximately $533,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cross Country Healthcare news, insider Marc S. Krug sold 13,657 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $14.82, for a total value of $202,396.74. Following the sale, the insider now directly owns 36,020 shares in the company, valued at $533,816.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Phillip Lyn Noe sold 9,646 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total transaction of $136,876.74. Following the transaction, the insider now directly owns 10,162 shares of the company’s stock, valued at approximately $144,198.78. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.